Billionaire Investor Ackman Is Quietly Building His Own "Buffett Empire"

Bill Ackman’s $14B hedge fund Pershing Square just made a bold move: 45% of the portfolio is now concentrated in 3 mega-cap tech stocks. Sounds risky? Not if you look at the math.

Uber (21% allocation) — Ackman just loaded up on 30M+ shares ($2.8B) in Q2. Why? The man notes Uber is printing cash like a machine: Q2 revenue hit $12.7B (+18% YoY), net earnings jumped 34% to $0.63 per share. With 76% dominance in US rideshare and a killer cross-sell engine (Uber Eats), the company trades at just 16x earnings despite being a market leader. CEO Khosrowshahi has transformed this into a “growth machine,” according to Ackman.

Alphabet (15% allocation) — Already holding since 2023, Ackman added more in Q2, calling it “attractive.” Google’s Q2 numbers? Revenue surged 14% to $96.4B, EPS jumped 22% to $2.31. The kicker: Cloud revenue is now running at $54B annually after a 32% YoY spike. Alphabet signed as many $1B enterprise deals in H1 2025 as it did in all of 2024. Stock trades at 26x earnings—reasonable for this growth profile.

Amazon (9% allocation) — Fresh position of 5.8M shares ($1.3B) in Q2. AWS + e-commerce domination means two “category-defining franchises” with massive secular tailwinds. Q2 net sales climbed 13% to $167.7B, EPS surged 33% to $1.68. The AI push (Alexa+, shopping agents, robot optimization) is starting to show competitive edges. PEG ratio of 0.58—anything below 1.0 screams undervalued.

The Play: Ackman is copying Buffett’s playbook—find high-quality businesses at reasonable valuations and let compounding work. The difference? He’s not afraid of cutting-edge tech. All three stocks have appreciated since he loaded up, yet he still sees “substantial upside.” In a market chasing shiny new coins, sometimes the boring winners are the actual Alpha.